By present $12 billion has been invested into implementation of the Shah Deniz Phase 2 field, including construction of the pipeline infrastructure in Azerbaijan and Georgia, and 30% of works have been completed, Vitalii Beglyarbekov, SOCAR Deputy Vice President, said in his interview to EurActiv.
“This shows that implementation of the Southern Gas Corridor (SGC) project cannot be stopped. SGC is not only a set of the signed agreements, we speak about billions of dollars of investments,” he added.
Beglyarbekov said that the deadline of commencement of gas extraction from the Shah Deniz Phase 2 is 2018.
“In 2018 gas will be delivered to Eskishekher, Turkey. Our buyers in Greece, Bulgaria and Italy will start receiving gas from the Shah Deniz field in early 2021,” he added.
The SGC project envisages creation of the pipeline infrastructure for transportation of Azerbaijani gas extracted from the Shah Deniz Phase 2 field to Europe via Turkey (cost of the project is $28 billion).
Cost of the project is estimated at $45 billion. The main components of the projects are Shah Deniz Phase 2, expansion of the South Caucasian pipeline Baku-Georgia-Turkish border, construction of the trans-Anadolu gas pipeline (TANAP) from the eastern to the western border of Turkey and the trans –Adriatic gas pipeline (TAP) connecting Greece, Albania and Adriatic Sea with the south of Italy.
It is expected to deliver 10 billion cub.m. of Azerbaijani gas to Europe. 6 billion cub.m. of Azerbaijani gas will be delivered to the western regions of Turkey.—0-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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